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ALTAGAS PROVIDES NOTICE OF SERIES G AND SERIES H PREFERRED SHARES CONVERSION RIGHTS AND DIVIDEND RATES
ALTAGAS PROVIDES NOTICE OF SERIES G AND SERIES H PREFERRED SHARES CONVERSION RIGHTS AND DIVIDEND ...
About this update from Altagas Ltd.
[{"type":"text","content":"\n\n\n\n ALTAGAS PROVIDES NOTICE OF SERIES G AND SERIES H PREFERRED SHARES CONVERSION RIGHTS AND DIVIDEND RATES\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n CALGARY, AB\n \n\n ,\n \n\n Aug. 30, 2024\n \n\n /CNW/ -\n \n AltaGas Ltd. (\"AltaGas\")\n \n (TSX: ALA) announced today that it does not intend to exercise its right to redeem any or all of its currently outstanding Cumulative Redeemable Five-Year Rate Reset Preferred Shares, Series G (the \"Series G  Shares\") (TSX: ALA.PR.G)  or the Cumulative Redeemable Floating Rate Preferred Shares, Series H (the \"Series H Shares\") (TSX: ALA.PR.H) on\n \n September 30, 2024\n \n (the \"Conversion Date\").\n \n\n As a result, subject to certain conditions, the holders of the Series G Shares have the right to convert all or part of their Series G Shares on a one-for-one basis into Series H Shares on the Conversion Date. Holders who do not exercise their right to convert their Series G Shares into Series H Shares will, subject to automatic conversion in the circumstances described below, retain their Series G Shares.\n \n\n In addition, on the Conversion Date the holders of the Series H Shares have the right to convert all or part of their Series H Shares on a one-for-one basis into Series G Shares. Holders who do not exercise their right to convert their Series H Shares into Series G Shares will, subject to automatic conversion in the circumstances described below, retain their Series H Shares.\n \n\n The foregoing conversion rights are subject to the conditions that: (i) if AltaGas determines that after giving effect to all conversions there would be less than 1,000,000 Series G Shares outstanding after the Conversion Date, then all remaining Series G Shares will automatically be converted into Series H Shares on a one-for-one basis on the Conversion Date; and (ii) if AltaGas determines that after giving effect to all conversions there would be less than 1,000,000 Series H Shares outstanding after the Conversion Date, then all remaining Series H Shares will automatically b...